Analysts forecast that G-III Apparel Group, Ltd. (NASDAQ:GIII – Get Rating) will report sales of $601.18 million for the current quarter, according to Zacks. Two analysts have provided estimates for G-III Apparel Group’s earnings, with estimates ranging from $600.40 million to $601.96 million. G-III Apparel Group posted sales of $519.91 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.6%. The business is scheduled to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that G-III Apparel Group will report full-year sales of $3.01 billion for the current fiscal year. For the next financial year, analysts expect that the business will report sales of $3.09 billion, with estimates ranging from $3.07 billion to $3.10 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for G-III Apparel Group.
G-III Apparel Group (NASDAQ:GIII – Get Rating) last announced its quarterly earnings data on Thursday, March 17th. The textile maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.64 by $0.34. G-III Apparel Group had a net margin of 7.25% and a return on equity of 14.24%. The business had revenue of $748.20 million during the quarter, compared to the consensus estimate of $740.17 million. During the same period in the previous year, the business earned $0.47 earnings per share. The company’s revenue was up 42.2% on a year-over-year basis.
GIII has been the topic of several analyst reports. Telsey Advisory Group reduced their price objective on shares of G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating on the stock in a research note on Monday, March 14th. StockNews.com cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Friday, February 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.00.
In related news, Vice Chairman Sammy Aaron sold 60,000 shares of the business’s stock in a transaction on Tuesday, March 22nd. The shares were sold at an average price of $29.82, for a total value of $1,789,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.60% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in GIII. Norges Bank acquired a new position in shares of G-III Apparel Group during the fourth quarter valued at about $11,881,000. Barclays PLC raised its holdings in shares of G-III Apparel Group by 38.7% during the fourth quarter. Barclays PLC now owns 64,948 shares of the textile maker’s stock valued at $1,795,000 after purchasing an additional 18,120 shares during the period. BlackRock Inc. raised its holdings in shares of G-III Apparel Group by 1.9% during the fourth quarter. BlackRock Inc. now owns 7,364,966 shares of the textile maker’s stock valued at $203,569,000 after purchasing an additional 135,328 shares during the period. Vident Investment Advisory LLC raised its holdings in shares of G-III Apparel Group by 3.3% during the fourth quarter. Vident Investment Advisory LLC now owns 47,702 shares of the textile maker’s stock valued at $1,318,000 after purchasing an additional 1,524 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of G-III Apparel Group by 590.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,172,073 shares of the textile maker’s stock valued at $32,396,000 after purchasing an additional 1,002,261 shares during the period. Institutional investors and hedge funds own 93.14% of the company’s stock.
GIII traded up $0.30 during trading on Friday, hitting $27.80. 523,792 shares of the stock traded hands, compared to its average volume of 462,054. G-III Apparel Group has a twelve month low of $22.50 and a twelve month high of $35.80. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 6.77 and a beta of 2.71. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.98 and a quick ratio of 2.15. The business has a 50 day moving average price of $27.17 and a 200 day moving average price of $28.35.
G-III Apparel Group Company Profile (Get Rating)
G-III Apparel Group, Ltd. designs, sources, and markets women’s and men’s apparel in the United States and internationally. The company operates in two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women’s suits, and women’s performance wear; and women’s handbags, footwear, small leather goods, cold weather accessories, and luggage.
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